What does the elective share consist of in the event of a deceased spouse?

The elective share of a deceased spouse, as defined by Florida law, allows the surviving spouse to claim a portion of the deceased spouse's estate despite the provisions of the will. Under Florida statutes, the elective share is set at 30% of the net estate. This means that the surviving spouse is entitled to receive 30% of the assets after debts and expenses have been paid, regardless of what the deceased spouse's will may stipulate. This provision is meant to protect the surviving spouse and ensure they receive a significant share of the couple’s accumulated wealth, recognizing their contributions to the marriage. Understanding this concept is crucial for those studying Florida real estate law and estate planning principles.